Palantir Technologies (NYSE:PLTR) raised its full-year outlook following a stellar third-quarter performance fueled by a wave of new AI-driven business. The company’s stock surged over 13% in pre-market today.
For the quarter, Palantir reported adjusted earnings of $0.10 per share, beating Wall Street analyst expectations of $0.09. Revenue climbed 30% year-over-year to reach $725.5 million, surpassing the projected $703.4 million. The robust results were propelled by a 39% increase in customer count, as demand for AI solutions continued to accelerate.
The company’s momentum has led it to raise its full-year revenue guidance to a range of $2.805 billion to $2.809 billion, up from its previous range of $2.742 billion to $2.750 billion. For the fourth quarter, Palantir projected revenue between $767 million and $771 million, well above the consensus estimates of $742.3 million.